Sentry Investment Management LLC Boosts Stake in Ingersoll-Rand PLC (IR)
Sentry Investment Management LLC boosted its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 3.4% during the third quarter, Holdings Channel reports. The firm owned 20,365 shares of the company’s stock after buying an additional 663 shares during the period. Sentry Investment Management LLC’s holdings in Ingersoll-Rand PLC were worth $1,384,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Synovus Financial Corp raised its position in Ingersoll-Rand PLC by 175.2% in the third quarter. Synovus Financial Corp now owns 1,544 shares of the company’s stock worth $105,000 after buying an additional 983 shares during the period. Penserra Capital Management LLC raised its position in Ingersoll-Rand PLC by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,872 shares of the company’s stock worth $127,000 after buying an additional 936 shares during the period. Howe & Rusling Inc. raised its position in Ingersoll-Rand PLC by 47.4% in the second quarter. Howe & Rusling Inc. now owns 2,112 shares of the company’s stock worth $134,000 after buying an additional 679 shares during the period. Global X Management Co. LLC raised its position in Ingersoll-Rand PLC by 165.7% in the third quarter. Global X Management Co. LLC now owns 2,136 shares of the company’s stock worth $145,000 after buying an additional 1,332 shares during the period. Finally, Washington Trust Bank raised its position in Ingersoll-Rand PLC by 39.6% in the third quarter. Washington Trust Bank now owns 2,374 shares of the company’s stock worth $161,000 after buying an additional 674 shares during the period. Institutional investors own 81.48% of the company’s stock.
Ingersoll-Rand PLC (NYSE:IR) traded down 0.69% during mid-day trading on Wednesday, reaching $74.54. 1,999,620 shares of the company traded hands. Ingersoll-Rand PLC has a 12-month low of $47.08 and a 12-month high of $76.45. The company’s 50 day moving average price is $70.10 and its 200 day moving average price is $67.14. The firm has a market capitalization of $19.26 billion, a P/E ratio of 12.93 and a beta of 1.32.
Ingersoll-Rand PLC (NYSE:IR) last posted its earnings results on Wednesday, October 26th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.12. The firm earned $3.57 billion during the quarter, compared to the consensus estimate of $3.55 billion. Ingersoll-Rand PLC had a return on equity of 17.70% and a net margin of 11.21%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.21 EPS. Equities research analysts predict that Ingersoll-Rand PLC will post $4.20 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be given a dividend of $0.40 per share. This is an increase from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Wednesday, December 7th. Ingersoll-Rand PLC’s dividend payout ratio is currently 22.22%.
A number of equities analysts have recently commented on IR shares. Zacks Investment Research upgraded shares of Ingersoll-Rand PLC from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research report on Friday, November 18th. Jefferies Group restated a “buy” rating on shares of Ingersoll-Rand PLC in a research report on Wednesday, August 3rd. KeyCorp restated a “hold” rating on shares of Ingersoll-Rand PLC in a research report on Monday, October 10th. Buckingham Research lowered shares of Ingersoll-Rand PLC from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 16th. Finally, Royal Bank Of Canada lifted their target price on shares of Ingersoll-Rand PLC from $74.00 to $76.00 and gave the company a “sector perform” rating in a research report on Thursday, October 27th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Ingersoll-Rand PLC presently has a consensus rating of “Buy” and an average target price of $69.41.
In related news, EVP Didier P. Teirlinck sold 9,090 shares of the stock in a transaction on Monday, November 7th. The stock was sold at an average price of $70.00, for a total transaction of $636,300.00. Following the sale, the executive vice president now owns 116,709 shares in the company, valued at approximately $8,169,630. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary S. Michel sold 10,708 shares of the stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $74.00, for a total value of $792,392.00. Following the sale, the insider now owns 37,005 shares in the company, valued at approximately $2,738,370. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
Ingersoll-Rand PLC Company Profile
Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.
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